As Democrats and Republicans both express support for tariffs, the economic implications of protectionist policies are once again at the forefront of public debate. Both parties differ on the size of their proposed tariffs, but the New York Times reports that “both Democrats and Republicans are expressing support for tariffs to protect American industry, reversing decades of trade thinking in Washington.” Proposals to impose tariffs on imports from China seem to be particularly attractive to both red and blue voters:
The tariffs have proved popular with industries that have faced stiff competition from Chinese firms, like makers of kitchen cabinets…the industry realized that Chinese companies had taken over about 40 percent of the market and that their share was continuing to grow.
In “Protectionism and the Destruction of Prosperity,” Rothbard explains why tariffs and protectionism are incompatible with economic prosperity:
As we unravel the tangled web of protectionist argument, we should keep our eye on two essential points: (1) protectionism means force in restraint of trade; and (2) the key is what happens to the consumer. Invariably, we will find that the protectionists are out to cripple, exploit and impose severe losses not only on foreign consumers but especially on Americans.
Rothbard’s point is that free trade is essential to the prosperity of ordinary consumers. Protectionism ultimately hurts domestic consumers when import tariffs cause prices of domestic goods to rise: “And since each and every one of us is a consumer, this means that protectionism is out to mulct all of us for the benefit of a specially privileged, subsidized few.” Moreover, tariffs do not create “fair” trade any more than price controls create “fair” prices. As Rothbard warns, […]
— Read More: mises.org
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
Empty-Suit Kamala Harris Nukes Her Only Proposal to Lower Prices for Hurting Americans
by Red State
With high prices continuing to slam average Americans following three years of explosive inflation under Kamala Harris, the issue has become top of mind for many voters. That’s led both nominees to put forth their proposals to bring relief. Donald Trump has promised to lower taxes, increase energy production, and…
Kamala’s Money Machine
by Frontpage Mag
“Kamala demands a life of luxury,” a former aide revealed. “She treats the campaign like a personal checking account to fund a lifestyle she aspires to,” another aide warned. “Staff has always worried about Kamala’s spending, but she is adamant about using campaign money as she wants,” that aide on…
US Home Sales Dropped in August Despite Falling Mortgage Rates
by The Epoch Times
U.S. existing home sales declined more than expected in August, even as mortgage rates fell to their lowest levels in more than a year. Last month, home sales tumbled 2.5 percent to a seasonally adjusted annual rate of 3.86 million units, according to new data from the National Association of…
Open Borders America: A New Generation of Victims
by Liberty Nation
Crimes committed by migrants are another hot-button issue sweeping the nation, especially with the recent influx of so many illegal immigrants. President Joe Biden and his administration opened the nation’s doors to the undocumented and started two programs to fast-track even more. Critics claim this has allowed for more crimes…
How a Faith-Based Gold Company Is Changing the Way Americans Protect Their Retirement
by Sponsored Post
When Genesis Gold Group was first conceived, co-founder Jonathan Rose knew two things were necessary in order to thrive in the extremely competitive precious metals industry. First, he knew they wouldn’t repeat the same deceptive marketing tactics “Big Gold” companies use to entice customers. Second, he knew they needed spiritual guidance if they were going to succeed in reaching Americans who want their life’s savings protected from the tumultuous markets. …
Trump Suggests Capping Annual Credit Card Interest Rates at 10% — But Critics Fear ‘Price Controls’
by NY Post
Former President Donald Trump floated limiting annual credit card interest rates to a maximum of 10% during a campaign stop on Long Island Wednesday night, prompting banking groups to push back against the plan as the Republican version of Democrat Kamala Harris’ widely panned “price controls.” “While working Americans catch…
New Costco Breaks Ground in South Los Angeles With 800 Upper-Floor Apartments
by The Epoch Times
Mayor Karen Bass and other officials broke ground Wednesday on a mixed-use project featuring a new Costco and 800 apartment units in South L.A., which they say will provide local residents with housing and job opportunities. Developed by Thrive Living, a national real estate firm, the project known as 5035…
Why a Kamala Harris Presidency Would Be Devastating for Small Businesses
by The Blaze
Kamala Harris claims under her and Biden’s leadership, a record of 19 million small business applications were received — but Glenn Beck and small business expert Carol Roth aren’t buying it. “What is a small business application?” Roth begins. “When I started my business, I didn’t have to apply at…
Dan Campbell Relocates Family After Doxxing Incident, Sells Mansion for $4.5M
by The Dupree Report
In light of safety concerns, Dan Campbell, the head coach of the Detroit Lions, has decided to relocate his family from their current residence in suburban Detroit. The decision comes after a series of harassment incidents at their home, prompting the family to sell their 2-acre property. “The house itself…
An Economy So Strong It Requires Crisis-Level Fed Action
by Mises
In the last few months, the Federal Reserve has signaled that it is prepared to cut interest rates. Today’s 50bps rate cut, however, exceeded most expectations. As ZeroHedge has noted, “only 9 of 113 economists surveyed” expected this sort of move, and the Fed’s own dot plot shows a growing…
Congressional Probe Into Democrat Fundraising Platform, ActBlue, Finds Potential “Criminal Activity”
by Darlene McCormick Sanchez, The Epoch Times
(The Epoch Times)—A congressional investigation analyzing more than 200 million political contributions found potential “criminal activity” and referred the information to five state attorneys general for further review. The review involved donation reports from ActBlue, an online Democratic fundraising platform, to the Federal Election Commission, according to Rep. Bryan Steil…
Obamacare Premiums Rise Again, No End in Sight
by Heartland Daily News
Some 324 Obamacare insurers across the 50 states and the District of Columbia are proposing a median premium increase of seven percent for 2024, according to an annual analysis by Peterson and KFF. Growth in health care prices, increased utilization, and the costs of diabetes and weight-loss drugs are among…